New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 11, 2014
12:08 EDTITYBY, LO, BTI, RAILorillard jumps after confirming buyout talks with Reynolds
Cigarette makers Lorillard (LO) and Reynolds American (RAI) confirmed earlier today that they are holding talks about a possible acquisition of Lorillard by Reynolds. Wells Fargo predicted that the deal could be announced as soon as today or early next week. WHAT'S NEW: Lorillard and Reynolds American are holding discussions about a potential acquisition of Lorillard by Reynolds, the two companies stated this morning. The U.K.'s Imperial Tobacco (ITYBY) said that it had held talks with Lorillard and Reynolds about buying assets from them. British American Tobacco (BTI), which has a 42% stake in Reynolds, expects to buy additional shares of Reynolds if the latter company acquires Lorillard, Reynolds reported. The British company would maintain its existing stake in Reynolds if it does buy Lorillard, Reynolds added. ANALYST REACTION: In a note to investors earlier today, Wells Fargo predicted that an acquisition of Lorillard by Reynolds could be announced as soon as today or early next week. The firm continues to believe that there is a 90%-plus chance of the deal taking place. Wells expects Reynolds to pay a 20% premium to Lorillard's closing price yesterday of $63.09. It reiterated Outperform ratings on both names. PRICE ACTION: In late morning trading, Lorillard climbed 4% to $65.50 and Reynolds fell 2% to $61.
News For LO;RAI;BTI;ITYBY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2015
14:14 EDTBTIBAT sees 'plain packaging' legal hearing in December, Reuters says
Subscribe for More Information
July 28, 2015
14:09 EDTRAIAltria, Philip Morris could be ripe for recombination, Bloomberg says
The justification for splitting Altria (MO) and Philip Morris (PM) roughly seven years ago "no longer exists" and it may be time to look at a combination, reports Bloomberg Real M&A, noting that the two companies lag behind Reynolds American (RAI) after its recent acquisition of Lorillard. The report notes that the firms have already partnered on product developments in recent months, though a Philip Morris spokesperson told Bloomberg that "many of the reasons articulated by the board at the time of the spinoff are still relevant today." Reference Link
13:17 EDTITYBY, RAIEarnings Watch: Analysts bullish on Altria, seen as 'top pick' by Cowen
Subscribe for More Information
08:02 EDTRAIReynolds American raises FY15 split-adjusted EPS view to $1.90-$2.00
Subscribe for More Information
08:01 EDTRAIReynolds American approves two-for-one stock split, 7.5% dividend increase
Subscribe for More Information
07:58 EDTRAIReynolds American reports Q2 EPS $1.02, consensus 97c
Reports Q2 revenue $2.4B, consensus $2.44B.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use